Hybrid CMBS Credit Ratings Senior Analyst – Chicago

Morningstar; Illinois; On-site; USD 92,000 - 116,000; Full time

Job summary

Morningstar DBRS in Chicago seeks a Senior Analyst to support CMBS credit analysis. You will assist lead analysts, develop cash flow perspectives, and review third-party reports while learning rating methodologies.

The role emphasizes real estate and structured finance with travel up to 20%. You will contribute to rating reports, participate in Rating Committee processes, and build expertise across office, retail, multifamily, and other asset classes.

Qualifications

• Minimum two years of experience in a commercial real estate related field.
• Undergraduate degree in accounting, business, finance or related discipline preferred.
• Strong analytical abilities and knowledge of financial statements.
• Solid research and analytical skills with attention to detail.
• Strong communication skills, both oral and written.
• Self-starter and team player with deadline discipline.
• Genuine interest in commercial real estate and structured finance.
• Ability to travel 10-20% domestically/North America.
• Valid driver's license and passport.
• Advanced knowledge of Microsoft Excel is a plus.

Responsibilities

• Serve as lead or backup analyst for CMBS transactions and follow rating methodologies.
• Determine stabilized cash flows for major property types (office, retail, multifamily, etc.).
• Search and aggregate market data for credit analysis.
• Track key economic indicators and asset class metrics.
• Review third-party reports (appraisals, environmental, etc.).
• Contribute analysis for rating reports and presentations under supervision.
• Review and create rating committee materials and participate in meetings.
• Assist with publishing workflow and regulatory disclosures.
• Develop understanding of real estate asset classes and client communication.

Skills

Real estate analysis

Financial statements

Research skills

Communication skills

Team player

Attention to detail

Travel 10-20%

Excel proficiency

Driving license & passport

Education

Undergraduate degree in accounting, finance or business

Tools

None

Job description

Morningstar DBRS in Chicago seeks a Senior Analyst to support CMBS credit analysis. You will assist lead analysts, develop cash flow perspectives, and review third-party reports while learning rating methodologies.

The role emphasizes real estate and structured finance with travel up to 20%. You will contribute to rating reports, participate in Rating Committee processes, and build expertise across office, retail, multifamily, and other asset classes.